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Kids Travel Bags Products Market Size, Share, & Trends Analysis Report (2023 – 2030)
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Report Overview
The global kids travel bags market size was valued at USD 1.34 billion in 2022 and is projected to expand at a CAGR of 4.4% from 2023 to 2030. The increasing demand for kid’s travel bags is primarily driven by the growing popularity of family trips and vacations. The increasing number of disposable incomes among families along with the rising trend of experiential travel are further aiding the growth of the market. Furthermore, the growing trend of outdoor activities and the availability of stylish as well as functional travel bags are providing a boost to the market.
The rising awareness among parents regarding the importance of outdoor activities and outdoor sports for the overall development of children is driving the demand for kids’ travel bags. Moreover, the availability of comfortable, stylish, and colorful travel bags with multiple compartments is propelling the demand for the market. Furthermore, the increasing preference for handbags and backpacks by children is also driving the market growth.
The increasing number of collaborations among market players and the growing adoption of digital marketing strategies is providing a boost to the market. Moreover, the increasing trend of customization and personalization of products is further aiding the growth of the market. Additionally, the launch of innovative products designed for toddlers and infants by key players is further aiding the market growth. For instance, in March 2021, a Mexico-based company, Little Nomad, launched a new collection of travel bags for kids. The new collection consists of backpacks, carry-ons, and duffel bags.
Furthermore, the increasing trend of online shopping and the growing popularity of e-commerce platforms are also providing a boost to the market. The availability of various offers and discounts on these products is further aiding the growth of the market. Additionally, the increasing number of new product launches by key players is further aiding the market growth. For instance, in May 2021, a U.S.-based company, Away, launched a new collection of kids travel bags. The new collection includes backpacks, duffel bags, and suitcases in various sizes.
Product Insights
The backpacks segment held the largest market share of 45.2% in 2022. The growth of the segment is attributed to the increasing number of students, along with the rising trend of outdoor activities and travelling among children. Furthermore, the increasing demand for comfortable backpacks with multiple compartments, such as laptop compartments and water bottle holders, is propelling the segment growth. Additionally, the growing trend of personalization and customization of backpacks is also driving the segment growth.
The travel trolley bags segment is expected to grow at the fastest CAGR of 8.1% over the forecast period. Increasing focus on convenience and comfort among parents, along with the rise in disposable income, are some of the key factors driving the segment growth. In addition, the increasing trend of gifting travel trolley bags to children by parents is also boosting the segment growth. According to an article published by the Business Standard in November 2019, the demand for kids’ travel trolley bags is increasing in India.
Distribution Channel Insights
The supermarkets and hypermarkets segment captured the major share of over 37.2% in 2022. This is due to the convenience of shopping in supermarkets and hypermarkets, as well as the increasing popularity of private label products. In addition, supermarkets and hypermarkets offer a variety of kids travel bags from different brands, which makes them an attractive shopping destination for consumers.
The online segment is anticipated to expand at the highest CAGR of 13.4% over the forecast period. This is due to the rising penetration of the internet and the convenience of online shopping. Consumers prefer online shopping as it allows them to compare prices and check product reviews and ratings. Furthermore, online retailers offer discounts and promotional offers, which is driving the growth of this segment.
Type Insights
The backpack segment accounted for the largest revenue share of 39.2% in the year 2022. The rising concerns of parents regarding their kids’ school supplies and other essentials have increased the demand for backpacks. Furthermore, the large size of backpacks enables the user to store more items in an organized manner compared to other types of travel bags. Besides this, the increasing trend of personalized backpacks has also increased the popularity of backpacks. For instance, in December 2020, Wildkin, a U.S. based company, launched a new range of personalized backpacks for kids.
The duffel bags segment is anticipated to expand at the highest CAGR of 8.2% over the forecast period. The increasing trend of weekend trips and outdoor activities have propelled the demand for duffel bags. Also, the increasing demand for lightweight and stylish bags is driving the growth of the duffel bag segment. For instance, in May 2021, Osprey, a U.S. based outdoor recreation products company, launched the Osprey Momentum 32 Duffel Bag for kids.
Regional Insights
Europe is expected to dominate the market during the forecast period. The growth of this regional market can be attributed to the increasing disposable income among households and growing demand for stylish travel bags from kids. Furthermore, the presence of a large number of leading players in this region is also contributing to the growth of the market. For instance, in April 2021, the French brand Bags & Co released a new collection of travel bags for kids.
Asia Pacific is expected to witness the second-fastest growth in the coming years. Growing awareness among the parents regarding the health benefits of using travel bags for kids is fuelling the growth of the market in the region. Moreover, the presence of a large number of manufacturing facilities and key players in this region is also providing an impetus to the market growth. For instance, in May 2021, the Chinese company Kidsme launched a new line of travel bags for kids in the Asia Pacific.
Financial Projections
In this part of the kids travel bags products business plan, we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your kids travel bags products business. Usually, these projections are drafted for a 5-year period.
Revenue Assumptions
The main source of revenues for a kids travel bags products business comes from retail sales. Here you will find a list with a description of each of them and other possible sources of profit such as wholesale sales, fundraising, online sales, sponsorship, and advertising.
Projecting Expenses
In this section, all the regular expenses related to keeping the kids travel bags products business running will be described. The list of operating expenses includes staff wages, marketing costs, rent, utilities, insurance policies, advertising, and others.
Key companies & market share insights
Some of the key companies operating in the kids travel bags market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:
– In September 2022, Samsonite launched a range of lightweight travel bags for kids.
– In October 2022, Herschel Supply Co. launched a range of waterproof backpacks with adjustable straps for kids.
– In November 2022, Jansport launched a range of travel bags with padded shoulder straps for kids.
Some of the prominent players in the kids travel bags market include:
– Samsonite
– American Tourister
– Jansport
– High Sierra
– Herschel Supply Co.
– Kipling
– Eastpak
– L.L. Bean
– Fjallraven
– Delsey
Global Kids Travel Bags Market Segmentation
This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global kids travel bags products market based on product, distribution channel, type, and region:
1. Product Outlook (Revenue, USD Million, 2017 – 2030)
– Backpacks
– Trolley Bags
– Duffel Bags
– Others
2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)
– Supermarkets & Hypermarkets
– Online
– Others
3. Type Outlook (Revenue, USD Million, 2017 – 2030)
– Hard-Sided
– Soft-Sided
4. Regional Outlook (Revenue, USD Million, 2017 – 2030)
– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa
Frequently Asked Questions
[Q]: What are the Factors Driving the Global Kids Travel Bags Market?
[A]: The rise in the number of international and domestic trips, the growing participation of women in the workforce, and the growth in disposable incomes are the main factors driving the global kids travel bags market. Additionally, the increasing demand for lightweight, durable, and fashionable bags has also contributed to the growth of this market.
[Q]: Who are the Major Players in the Global Kids Travel Bags Market?
[A]: Samsonite International S.A., American Tourister, VF Corporation, Delsey SA, Eagle Creek, Kipling, Osprey, Kipling, and The North Face are some of the major players in the global kids travel bags market.
[Q]: What are the Different Types of Kids Travel Bags Offered?
[A]: The different types of kids travel bags offered include backpacks, duffel bags, trolley bags, and suitcases.
[Q]: What are the Major Regional Markets for Kids Travel Bags?
[A]: North America, Europe, Asia-Pacific and the Rest of the World are the major regional markets for kids travel bags.
[Q]: What are the Benefits of Kids Travel Bags?
[A]: Kids travel bags provide a variety of benefits, such as increased comfort and convenience, better organization of items, and safety for carrying items. Additionally, kids travel bags offer a variety of features such as adjustable straps and pockets, which make them more user-friendly.
Research Methodology
Impact Analytix employs a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. The company utilizes a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. In Addition, a recurring theme prevalent across all our research reports is data triangulation which looks market from three different perspectives. Critical elements of the methodology employed for all our studies include:
Preliminary data mining
Raw market data is obtained and collated on a broad front. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. For a comprehensive understanding of the market, it is essential to understand the complete value chain and in order to facilitate this; we collect data from raw material suppliers, distributors as well as buyers.
Technical issues and trends are obtained from surveys, technical symposia, and trade journals. Technical data is also gathered from an intellectual property perspective, focusing on white space and freedom of movement. Industry dynamics with respect to drivers, restraints, and pricing trends are also gathered. As a result, the material developed contains a wide range of original data that is then further cross-validated and authenticated with published sources.
Statistical model
Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously. These factors are studied on a comparative basis, and their impact over the forecast period is quantified with the help of correlation, regression, and time series analysis. Market forecasting is performed via a combination of economic tools, technological analysis, industry experience, and domain expertise.
Econometric models are generally used for short-term forecasting, while technological market models are used for long-term forecasting. These are based on an amalgamation of the technology landscape, regulatory frameworks, economic outlook, and business principles. A bottom-up approach to market estimation is preferred, with key regional markets analyzed as separate entities and integration of data to obtain global estimates. This is critical for a deep understanding of the industry as well as ensuring minimal errors. Some of the parameters considered for forecasting include:
Market drivers and restraints, along with their current and expected impact
Raw material scenario and supply v/s price trends
Regulatory scenario and expected developments
Current capacity and expected capacity additions up to 2030
We assign weights to these parameters and quantify their market impact using weighted average analysis, to derive an expected market growth rate.
Primary validation
This is the final step in estimating and forecasting our reports. Exhaustive primary interviews are conducted, face to face as well as over the phone to validate our findings and assumptions used to obtain them. Interviewees are approached from leading companies across the value chain including suppliers, technology providers, domain experts, and buyers so as to ensure a holistic and unbiased picture of the market. These interviews are conducted across the globe, with language barriers overcome with the aid of local staff and interpreters. Primary interviews not only help in data validation but also provide critical insights into the market, current business scenario, and future expectations and enhance the quality of our reports. All our estimates and forecast are verified through exhaustive primary research with Key Industry Participants (KIPs) which typically include:
Market-leading companies
Raw material suppliers
Product distributors
Buyers
The key objectives of primary research are as follows:
To validate our data in terms of accuracy and acceptability
To gain an insight into the current market and future expectations
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